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May26
Fourth Quarter Loss at Frontier, Expects Return to Profits This Year
Frontier Airlines said on Thursday its fiscal fourth quarter loss widened as seat capacity continued to grow at its main hub, Denver International Airport. 

The company reported a net loss for the quarter of $7.9 million, or 22 cents per share, compared to a net loss of $3.7 million, or 10 cents per share, for the same period last year, which included a gain of 8 cents a share from fuel derivatives and sale of inventory.

Revenue for the quarter ended March 31 rose 16 percent to $252.5 million.

"In an industry that has trended towards overall reduced capacity, Denver International Airport was an anomaly, adding the second-greatest number of seats of the top 33 airports in the country on a year-over-year basis for the fiscal fourth quarter," Frontier President and Chief Executive Jeff Potter said in a statement.

Looking ahead to the summer, Frontier expects to see year-over-year seat capacity growth at Denver International, but at a lower percentage increase than in this year's March quarter, he said.

Potter said Frontier expects to return to profitability in the current June quarter.

Yahoo! News


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